Gold bulls defy price slump as Paulson loss widens: Commodities

Hedge funds lifted their bets on a gold rally as signs of an improving U.S. economy drove prices lower in the longest slump since April, while this year’s bullion declines spurred losses for billionaire John Paulson.
Money managers increased their net-long positions in gold by 9.9 percent to 34,301 futures and options as of July 2, U.S. Commodity Futures Trading Commission data show. Holdings of short contracts climbed 1.4 percent to 78,148, the second-highest on record. Net-bullish bets across 18 U.S.-traded commodities dropped 17 percent as investors grew more bearish on wheat and soybean oil………………………………………..Full Article: Source